BioXcel Therapeutics (NASDAQ:BTAI) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw began coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a report issued on Wednesday morning,Benzinga reports. The firm issued a buy rating and a $65.00 target price on the stock.

BTAI has been the topic of several other research reports. Bank of America reaffirmed an “underperform” rating and set a $4.00 target price (down previously from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. HC Wainwright dropped their target price on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their target price on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.60.

BioXcel Therapeutics Stock Down 1.3 %

BTAI opened at $2.33 on Wednesday. The stock’s fifty day moving average is $3.54 and its two-hundred day moving average is $6.72. The company has a market capitalization of $7.47 million, a P/E ratio of -0.07 and a beta of 0.89. BioXcel Therapeutics has a 52 week low of $1.72 and a 52 week high of $49.58.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors have recently bought and sold shares of BTAI. Squarepoint Ops LLC boosted its holdings in shares of BioXcel Therapeutics by 203.9% during the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after purchasing an additional 48,336 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of BioXcel Therapeutics by 81.4% during the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of BioXcel Therapeutics by 7.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after purchasing an additional 13,952 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of BioXcel Therapeutics by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after purchasing an additional 13,922 shares during the last quarter. 30.68% of the stock is currently owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.